Vimeo, a video hosting and sharing platform, actively integrates artificial intelligence technology. The company recently announced a suite of AI-powered tools that help create scripts, record videos with a built-in teleprompter, and translate videos to text while removing unwanted pauses and gibberish from recordings. These features will be available to him starting July 17 as part of the standard Vimeo package for $20/month (billed annually).
Vimeo’s AI scripting tool. Image Source: Vimeo
Vimeo Chief Product Officer Ashraf Al-Kalmi said these innovations will motivate executives, employees, social media professionals and others who lack the experience, time and resources to create high-quality content. It claims to be aimed at serious video creators. According to a study conducted by Vimeo, 50% of his customers make multiple takes when making a video, and only 25% of them record 5 or more takes.
“Video is the most effective medium for conveying impactful messages, but it can be difficult to create. Al-Kalmi said: — New AI-powered tools reduce this complexity and give creators the confidence to create great videos the first time.”.
Vimeo’s new script generator uses generative AI, especially the OpenAI API, to create short descriptions and important scripts such as tone (“confident,” “inspiring,” “informal,” etc.) and length. Generates a video script based on various parameters. The Teleprompter tool lets you customize your text display with different font sizes and scroll speeds, and the text editor automatically detects and removes distractions and pauses.
Vimeo’s Teleprompter AI Tool
Alcarmi believes they can use these tools to quickly create highlights, host virtual events and internal meetings, and export clips for short commercials.
“Vimeo has come a long way over the years, and many people mistakenly think that Vimeo is a place for entertainment.Al-Kalmi emphasized. — Our goal is to help businesses use video, like text and images, as a powerful communication tool to engage with diverse audiences.”.
In this context, the use of AI is becoming more and more popular. Alcarmi points out that Vimeo has been investing in AI development for a long time. In 2019, the company acquired Magisto, which developed AI technology for video editing. Based on the Magisto framework, an authoring tool was created that allows users to collect stock photos and videos, as well as videos from their personal archives.
AI tool that translates Vimeo videos to text
Alcarmi expects AI to remain a core business for Vimeo in the future. Perhaps from a competitive point of view it makes sense. A growing number of startups offer AI-based video editing tools such as Capsule, Descript, and Dumme. Large companies such as Adobe are also active in this area.
“We are just beginning to see the opportunities that AI can offer businesses and their employees, and we see a future where owning AI is no longer a luxury, but a necessity for video content creation., — Al-Kalmi shared his thoughts. — AI is a priority for me and my product team, not because it’s the latest trend in technology, but because it solves real customer problems. We hope to see more solutions like this as we strive to simplify the video creation process and integrate AI into our products in ways that make the user experience unique at every stage of their interaction with our products. I’m here.”.
Vimeo, a public company with 260 million users, struggled earlier this year, laying off about 11% of its workforce. Still, we see positive trends that may reflect new investments in AI technology. In its most recent May report, the company beat expectations, reporting revenue of $103.58 million, versus an expected $103.07 million.
In conclusion, introducing AI into the video production process is an important step in technological development. This not only simplifies the process for novice content creators, but also opens up new opportunities for experts. With current trends in science and technology, it’s important to stay on top of the latest innovations and view them as tools to improve communication and collaboration.
